Overall, USD/CAD is trending upwards.
The Canadian retail sales data released yesterday indicated continued increase in consumer spending at a faster rate in October than in September.
Currently, USD/CAD is testing the support zone of 1.29000 and its next resistance zone is at 1.31500.
Look for short-term buying opportunities of USD/CAD if it bounces off the support zone of 1.29000.
The Canadian retail sales data released yesterday indicated continued increase in consumer spending at a faster rate in October than in September.
- Core Retail Sales m/m (Actual: 1.3%, Forecast: 1.6%, Previous: 0.2% revised from -0.2%)
- Retail Sales m/m (Actual: 1.6%, Forecast: 1.0%, Previous: -0.3% revised from -0.6%)
Currently, USD/CAD is testing the support zone of 1.29000 and its next resistance zone is at 1.31500.
Look for short-term buying opportunities of USD/CAD if it bounces off the support zone of 1.29000.
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